Several things characterize a tier 1 industry. The first is its prices. Prices are mostly high. This is resulting from the high cost of large facilities and good products. The second is the quality of the products of a tier 1 business. Most tier 1 products have excellent quality. If a company has high prices, like a tier 1, and poor products, then they are sure to fail. Third, tier 1 companies have good financial resources. Fourth, a stable tier 1 business provides solid, consistant support and services. Lastly a tier 1 has R & D, which stands for Research and Development. This means that they have a department and funds that work specifically towards inventing and creating new products.
Tier 1
Several things characterize a tier 1 industry. The first is its prices. Prices are mostly high. This is resulting from the high cost of large facilities and good products. The second is the quality of the products of a tier 1 business. Most tier 1 products have excellent quality. If a company has high prices, like a tier 1, and poor products, then they are sure to fail. Third, tier 1 companies have good financial resources. Fourth, a stable tier 1 business provides solid, consistant support and services. Lastly a tier 1 has R & D, which stands for Research and Development. This means that they have a department and funds that work specifically towards inventing and creating new products.